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Burman family spokesperson on Wednesday issued a statement regarding the allotment of approximately 2.14 crore shares, constituting ~8% of Religare Finvest Limited (RFL), to Rashmi Saluja through Employee Stock Ownership Plans (ESOPs). The largest shareholder of Religare Enterprises Limited (REL) has said that the matter requires investigation in terms of compliance with SEBI Takeover Regulations. On Wednesday, ET had reported that a day after the Burman family announced an open offer to buy more shares to take control of the financial services conglomerate, Rashmi Saluja, executive chairperson of the company, acquired around 8% stake in its wholly-owned shadow bank Religare Finvest Limited (RFL), through an Employees Stock Option Plan (Esop) award. «It is unfortunate that a solitary executive has cornered significant quantum of remuneration through ESOPs at Religare Enterprises Limited (REL), Care Health Insurance Limited, and RFL, all without approval and requisite disclosure to REL shareholders,» the spokesperson said.

Air India on Wednesday announced the appointment of P Balaji as the Group Head for Governance, Regulatory, Compliance (GRC) and Corporate Affairs. Balaji, who will join the newly-created position at Air India on January 11, earlier served a nearly decade-long stint at Vodafone Idea, where he spearheaded the regulatory and public policy functions, the airline said.

Beauty and personal care (BPC) products in the burgeoning direct to consumer (D@C) segment emerged as the largest selling category in India after about 3.7 lakh packs of Vitamin C Serum were sold during 2023, according to GoKwik’s network data report. The highest repeat rate was also observed in BPC at 30%, followed by fashion at 28%. The electronics category saw one of the lowest repeat rates, at 14%. “D2C brands are increasingly becoming shopper favourites.

Silicon Valley-headquartered company, Nikesh Arora collected stock awards worth at least $200 million. Upon being recruited by Masayoshi Son of SoftBank Group in 2014, Nikesh Arora set a new record in Japan with a remarkable first-year compensation package of $135 million, a Bloomberg report said. With the SoftBank paycheck, Nikesh Arora became the world’s best-paid executive.

The number of searches for personal loans in India is growing rapidly, indicating an evolution in customer behavior we have not seen before. Searches for personal loans extend to emergencies, home & vehicle purchases, marriages, vacations, and more. What opportunities do these search trends present for financial institutions and loan providers? Techmagnate, a leading digital marketing agency in India, has the answer. In the dynamic landscape of India's financial sector, non-banking financial companies (NBFCs), traditional banks, and lending institutions are presented with an unparalleled opportunity to harness the surgingsearch trends in the personal loan market.

Reuters, the Election Commission of Pakistan (ECP) initiated contempt proceedings against Khan and other former leaders of his Pakistan Tehreek-e-Insaf (PTI) party. The development came days after Khan's nomination for the February 8 general elections was rejected by the Pakistan's poll body.

The U.S. stock market looks set to extend its strong performance in the new year as investors eye multiple interest rate cuts from the Federal Reserve in 2024.

₹1,017.90, it is currently down by 49%. Despite this steep drop, the stock's 10-year return stands at 2071%. In its recent analysis, domestic brokerage firm Keynote Capitals has initiated coverage on the company, assigning it a 'buy' rating and establishing a target price of ₹819 per share.

A single Bitcoin transaction could use the same amount of water needed to fill a garden swimming pool, according to a new study on the world’s most popular cryptocurrency.

2023 was a roller coaster of a year for the markets, fuelled by rate-cut expectations from the US, the UK and Europe, global tensions erupting in the Middle East and, not least of all, disappointing news from China’s economy.

Captain Fresh raised Rs 110 crore in a funding round from Andhra Pradesh-based Nekkanti Sea Foods and financial and investment firm Shakti Finvest. The funding was done through an issue of 1,102 convertible preference shares at a price of over Rs 9 lakh each, the firm said in a filing with the Registrar of Companies.

₹18,000-crore first phase of the proposed international container transshipment terminal at Great Nicobar next month. Sarbananda Sonowal, minister of shipping, ports and inland waterways, said about a dozen entities have shown interest in the project and that tenders would be floated soon after the terms were finalised. Mint had earlier reported that Larsen & Toubro Ltd, Afcons Infrastructure Ltd, and JSW Infrastructure Ltd were among companies interested in building the terminal.

Business Today. According to the report, Puri said there's no proposal to cut fuel prices. He rubbished several media reports on "cut in the prices of petrol, diesel" as “speculative", it added.

NEW DELHI : The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be "extraordinarily generous" to SEBI and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue. In a relief to the Adani Group, the Supreme Court refused to transfer the probe into the allegations of stock price manipulation by the Indian corporate giant to a special investigation team and directed market regulator SEBI to complete its probe into two pending cases within three months.

crypto landscape in India, the Financial Intelligence Unit (FIU) India has issued a critical notice to offshore entities, signalling a significant stride in regulatory measures within the sector. Particularly directed at major exchanges like Binance, KuCoin, Kraken and others, this notice has garnered attention prompting discussions on compliance and potential repercussions. Edul Patel, the Founder and CEO of Mudrex, in an exclusive conversation with the EconomicTimes.com offered detailed insights into the implications of FIU’s directive of issuing show cause notice to offshore entities operating within India's rapidly expanding cryptocurrency sector. He emphasised the ramifications of this move on the industry's regulatory landscape and its potential impact on offshore exchanges and the Indian crypto users. Here are some key takeaways and insights shared by him during the conversation. To watch the full conversation, click here.

B K Hariprasad on Wednesday claimed that there is a possibility of 'Godhra-like incident' in Karnataka in the run up to the consecration ceremony of Ram temple in Ayodhya on January 22. «The Karnataka government should be alert because in Gujarat during the same occasion, the Kar Sevaks were set on fire at Godhra,» the MLC told reporters here. The 2002 Godhra train burning case had plunged Gujarat into one of the worst communal riots. The former Rajya Sabha member said: «A similar (Godhra-like) situation can be created here also.

Congress General Secretary and Karnataka incharge Randeep Singh Surjewala on Wednesday urged the union government to immediately release Centre's grants to the State including drought relief without any further delay. He also questioned the «silence» of BJP MPs on the matter. In a statement here, he said the state government had declared 223 taluks among the total 236 as drought-hit, and there is a loss of standing crop in over 48.19 lakh hectare, as per study report from experts.

By Nell Mackenzie

Wheat production is expected to touch a new record of 114 million tonnes in the ongoing 2023-34 crop year on higher coverage and provided weather conditions remain normal, a top food ministry official said on Wednesday. The last leg of sowing of wheat, the main rabi (winter) crop, is underway and will continue till next week. Till last week, wheat was planted in 320.54 lakh hectares, as per the official data.

Uttar Pradesh government has implemented a ban on individuals below the age of 18 from driving scooters and cars. Parents who permit their children to drive scooters or cars will face a penalty of three years imprisonment and a fine of Rs 25,000, reports IANS. The government spokesperson stated that strict measures will be enforced in secondary schools in collaboration with the Transport Department.

Matrimonial app safety has become a top concern for many. Is sharing your details wise? This preys on the emotional vulnerability of singles desperate for marriage. This elaborate scam uses romance to exploit people seeking love.